chill444
New Member

Get your taxes done using TurboTax

Thank you for your help... This is the first 1031 I have done. To my understanding I should not have a boot, but please correct me if I am wrong. Sold a SFR for $410k and bought a SFR for $610 within 30 days. Paid off a mortgage of $187k and acquired a mortgage of $237k on the new purchase. I did have to split the numbers between land and building inside of TT, but I tried to follow the instructions diligently. Not sure what question in TT triggered the 4797 form.